RSI’s large area
adds high power and lower installation cost to CdTe’s already proven
efficiency, reliability, sustainability and profitability.

Large
CdTe modules will be manufactured by RSI's exclusive regional
manufacturing partners, hastening the march towards
grid parity for solar.

SAN
JOSE, CA, 10 July 2013 - RSI today announced a new world record for cadmium
telluride photovoltaic module size, achieving a 1.5 square meter module. The
availability of low cost large-area CdTe panels coupled with localized
manufacturing partners hastens the widespread achievement of grid parity
for utility scale solar.

Conventional
cadmium telluride (CdTe) modules measure 0.72 square meters, a limitation that
stems from the use of high temperature CdTe deposition processes. RSI has
developed a proprietary tool and low temperature process, known as Rapid
Efficient Electroplating on Large-areas (REEL), that both speeds the plating
step and eliminates constraints on panel area. The company projects a
manufacturing cost of less than 40 cents per peak watt in 2014.

The
availability of low-cost, large-area CdTe panels coupled with a business model
that leverages regional manufacturing partners promises the widespread acceleration
of grid parity for utility scale solar.

"The
math is simple for large-area modules", said RSI Co-founder and President
Kurt Weiner, "At each step in the manufacturing process we are moving more
Watts for a given capex, materials and labor cost. At the end, our panels
produce significantly more power so they’re cheaper to install. When we founded
the company we recognized that in thin-film, you needed larger panel sizes with
higher power outputs, in addition to efficiency, to truly differentiate against
silicon. We’ve achieved both at RSI."

"The
solar industry is growing massively, but the only manufacturers who have made
consistent profits are those with access to proprietary technology." said
RSI Chief Executive Ed Grady. "Incremental improvements to undifferentiated
technology like crystalline silicon are not enough to prosper in this
commoditized market. Manufacturers end up giving away their margin to
survive. First Solar has shown how to make profits through technology and
cost differentiation. RSI is delivering a step change improvement in the cost
structure, while retaining all the characteristics that have made CdTe so
successful."

"The
combination of low capital need and a focus on solving the key manufacturing
scale and capital cost issues made RSI stand out as an investment
opportunity." said RSI
investor Matt Jones of Nth Power. "RSI had the highest profit and investor
return potential of any solar module company we have seen."

Pedram
Mokrian from Mayfield Fund is also bullish. “We believe that the solar industry
is just beginning to hit its stride. RSI's large-area manufacturing technology based
on the proven CdTe material system represents a step change in PV manufacturing
costs. Most importantly, our investment focused on the strength of the RSI
team, and their ability to execute against this vision.” he said.

RSI
has been developing low cost electroplating processes since 2009. RSI is now offering a "virtual
turnkey" manufacturing capability to a single licensee in each major
region of the world.

Please
contact Paul Fox at paul@reelsolar.com for more information.

About
RSI.

RSI
provides technology, tools, materials and know-how to the leaders in
photovoltaic manufacturing. The company has developed a proprietary
process for Rapid Efficient Electroplating on Large-areas
(REEL). RSI works with regional manufacturing partners to deliver the
lowest cost locally manufactured photovoltaic modules. The company was founded
in 2009 by a team of capital equipment veterans based in Silicon Valley,
California. For more information about RSI please visit www.reelsolar.com.

RSI

A new way forward for PV manufacturers.

RSI provides technology, tools, materials and know-how to the leaders in photovoltaic manufacturing. The company has developed a proprietary process for Rapid Efficient Electroplating on Large-areas (REEL). RSI works with regional manufacturing partners to deliver the lowest cost locally manufactured photovoltaic modules. The company was founded in 2009 by a team of capital equipment veterans based in Silicon Valley, California.

RSI | 2219 Oakland Road, San Jose, California, 95131, United States of America